To: Wink who wrote (24253 ) 9/25/1998 3:08:00 PM From: Freddie Forte Read Replies (3) | Respond to
Hey gang.....Just to show you that I'm not one way, I call them as I see them. I just had a pleasant surprise. Randy just called in response to my fax yesterday. I'm writing mostly from memory so bear with me if I'm a little sketchy. Randy sounded very positive and upbeat in spite of the mess he encountered when he came onboard. 1996's AUDITED financials are completed. You know, I forgot to ask him if the numbers would be the same. Anyhow, outstanding shares for 1996 was 19,000,000. 1997's audit will be completed on time on October 16, 1998. The .1085 cannot be confirmed or refuted. My gut feeling is it will be less, maybe, slightly negative. But this is just my opinion. Sukey was fired. Randy made a mistake in this hire as Sukey was abusing his position and his work was inadequate. Randy overestimated sales for 1998 at 100,000,000 but, should come in around 60-65 million gross sales. 4th quarter should be Firamada's strongest. Randy stated that if Arif doesn't address the O/S issue for 1998 , then , EPS will be negative for 1998. I think I heard that correctly. Arif is working with lawyers on this. The Missouri and one of the New York offices have been discontinued to streamline costs. I asked Randy a simple question, "Is the company profitable?" Randy said he honestly didn't know. I asked if a reverse split was in the foreseeable future. Randy said he honestly did not know. Pro-forma's will be coming out shortly. The next PR will coincide with the release of 1997's financials. Preferred financial is still in the picture, but, Randy wants interactive conference calls with shareholders. The company is not going bankrupt and, apparently, is not cash starved. There's more, but, I need to jog my memory some. Randy said to call him anytime and he will answer questions that can be answered. Randy stated that the company was a mess when he came onboard and Ira, well....I won't comment there. Randy owns no stock or stock options in the company at this time........fire away.
